Text analytics, from entity matching software to opinion mining, is an important part of the modern world. For example, entity matching software was not even a concept more than thirty years ago, but today entity matching software is common if not prolific and widespread.
Text mining and analytics happens in a few key steps. The first step is perhaps the most important – information retrieval. Second, natural language processing occurs. Third, the actual process of information extraction occurs. And fourth and finally, the data mining happens. These four steps can be used for a number of purposes, from security to marketing. There is so much data out there that even out of the immense amount of data that we mind from online on the internet, we only ever touch about 1% of the total data out there that is created. In fact, nearly 2 MB of data is created every second of every day for every single person.
Text analytics help us to understand and interpret many things about the modern world, and in this age of the internet, online data has proved useful for a number of purposes, some that you might never expect.
For example, text analysis and entity matching software, along with semantic extraction software and other technologies, can actually be used to better enforce border security in the United States (as well as elsewhere). Text analytics and entity matching software are able to help strengthen security at our borders in a few key ways. First, they strengthen borders by accurately identifying the dangers that present not only at screening time, but near the borders in general. Second, they can help to improve border security by identifying and separating which of those threats present the sort of danger that needs to be followed up on. Finally, they help to accurately predict and forecast the future dangers that will occur at the United States borders to better work to prevent them.
Text analytics and data mining can also be useful for marketing practices for businesses. In fact, it can help to provide the most accurate insights possible into the minds of consumer bases, as well as target ads towards specific demographics, often through social media sights like Facebook and Instagram. And Facebook creates an immense amount of data waiting to be mined just on its own – in fact, it has nearly 2 billion monthly users.